A Florida real estate company is warning investors about the possibility of a market crash if the U.S. real estate bubble bursts.
The Tampa Bay Times reported Thursday that The Real Estate Board of Greater Tampa, the agency that regulates the real estate industry, has received hundreds of complaints from buyers about ratings being issued by companies that are based outside of Florida.
The agency also said that several real estate agents have reported receiving complaints from prospective buyers about “potential ratings being assigned to properties that are not based in Florida.”
The agency said it has received at least three complaints about the issue.
The Times said that the realtor association and a Florida realtor had both received complaints.
Realtor Association of FloridaPresident Robert Molloy said the agency would address the issue as soon as possible.
“It’s a concern we’re aware of, and we’ll be looking at it,” Molloys said.
The real estate board said it is also reviewing its rating system.
